保险英语答案

Reference Answers of Chapter 1

Ⅴ. Translation from English to Chinese:

1. 如果一个小孩在繁忙的大道中间玩耍、如果一个工人使用机器时，不知道机器出了问题而面临危险、如果一个行人不知道靠近人行道的墙壁处于危险境地，面临倒塌的危险，他们将会发生什么？每一种情况都有风险的因素和不确定性存在。这个小孩也许不会收到伤害、机器也许会坚持到这个工人用完机器为止、靠近人行道的墙壁没有倒塌伤到这个人。但是在每一种情况都有可能造成严重的伤害。

2. 众所周知，每一个人对他的邻居的人身伤害和财产损失负有责任，不要伤害他的身体以及损坏他的财产。责任的产生也许是因一个房屋的所有权、一个宠物、户外运动或者一个简单的行为引起，比如穿越马路不开前方等等。在英国1968年卡拉克先生（Clark）起诉西普思顿（Shepstone）女士案件中，Shepstone女士突然从人行道走出来，没有看前方，致使摩托车驾驶者紧急刹车导致翻车，摩托车后座乘客Clark先生严重受损。他起诉Shepstone女士，最终获得了28,500英镑的赔偿。如果Shepstone女士没有购买个人公众责任保险，她就会面临严重的经济困难。 Ⅵ. Translation from Chinese to English:

1. Risk is uncertainty of loss and is the possibility of loss.

2. Risk is unpredictable, which refers that the actual results may differ from predicted results.

3. Flood is the peril and the house near the bank of the river is the hazard. 4. Hazards are not themselves the cause of the loss, but they can increase or decrease the effect if a peril operates.

5. Physical hazard relates to the physical characteristics of the risk.

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6. Moral hazard is a situation in which a party is more likely to take risks because the costs that could result will not be borne by the party taking the risk.

7. Where there is no risk, there is insurance.

8. A financial risk is one where the result or the outcome can be measured by money. Ⅶ. Case analysis:

1. Suppose you want to establish a small business. The business is about a small grocery, selling foodstuffs and various household supplies. Describe the ways in which risk may affect your business. How you deal with the business? Describe the pure risks and speculative risks.

At first, you must consider pure risks and speculative risks. You should identify the risks, then analyze them and take steps to control the risks. You may transfer the risks to insurance.

Pure risks include material damages to the grocery and stock by fire, storm, explosion or malicious damages or theft. Liability risks to employees or clients.

Speculative risks include pricing, marketing decisions and credit providing to clients. You should take measures to minimize the frequency or severity by buying equipment, for example, fire protection, security systems, burglar alarm, etc. Besides, you should make some investigations on clients demand.

Pure risks are insurable. Therefore you should buy some kinds of insurance to transfer pure risks to insurance company.

2. There is a large multi-nation petroleum company. It spends a large sum of money each year on insurance premiums. Talk about the benefits for the company, for the community and for the government.

Benefit for the companies: The company can have a peaceful mind and

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security protection because the company has transferred the risk to the insurance company. If the company chooses to retain the risk, it would have to hold large reserves to cover emergencies. Though the insurance premium is a certain loss, the balance of funds can then be invested in the business.

Benefit for the community: If the company is insured against a loss, it can stimulate the business activity and provide jobs for the community. Insurance can provide protection in the event of loss and keep people in employment.

Benefit for the government: Because the premiums collected by insurance company are not needed immediately for claims, these premiums can be invested in the real estate, transportation, energy, etc. These investments are helpful both for the government and industry.

Reference Answers of Chapter 2

Ⅴ.Translation from English to Chinese:

1. 保险利益至少有四个特点。首先，必须是一些财产、权利、利益、肢体或者潜在的利益可以进行投保。第二，这些财产、权利、利益等等必须是保险标的。第三，被保险人必须与保险标的有一定的关系，也就是他能得益于财产安全、生活安宁以及不要承担责任，或者由于危险的存在和责任的承担，他会受到伤害。最后，被保险人与保险标的的关系必须得到法律的认可。

2. 很难估算失去一只眼睛或者一条胳膊的价值是多少。任何估价都是武断的，法庭依据以前的案例法已经设计了一个赔偿数额。对于特殊的伤害，

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这个数字不是固定不变的。例如，一条胳膊赔偿一万元，一只眼睛赔偿二万元。简单地说，法庭采用以往的案例作为指引，对于伤害程度类似的就用类似的损失赔偿。

Ⅵ. Translation from Chinese to English:

1. When we talk about insurance, we always talk about the insurable interest. 2. The proposer's insurable interest to the subject matter of insurance is limited to the maximum sum insured.

3. In marine insurance contract, the insured must be interested in the subject matter insured at the time of loss,

4. In life insurance contract, insurable interest is only required by the insured at inception.

5. The applicant has insurable interests over himself, his spouse, his children and his parents.

6．Insurance companies have insurable interest in their liability to pay claims to insureds.

7. In life insurance, insurable interest is only required when the insured is insured himself at the beginning.

8. General speaking, the transfer of life insurance contract can be valid only after the insurer is agreed. Ⅶ.Case analysis:

1. A visitor came to Shanghai for sightseeing during a holiday. After he visited the Tower of Eastern Pearl, he went to the insurance company and made an offer that he wanted to pay premium to cover the Tower in order to protect the property. Do you think the local insurance company agrees to accept his offer?

I don?t think the local insurance company agrees to accept his offer. It is because the Tower of Eastern Pearl belongs to the local government, not belongs

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to the Visitor. He has no insurable interest to the subject matter of insurance. Therefore, the local insurance company will refuse to accept his offer.

2. Johnson is the owner of a house. The cost of rebuilding the house will be

￥600,000. He has a mortgage for ￥350,000 with Industrial & Commercial Bank of China. Discuss what extent both Johnson and Industrial & Commercial Bank of China have an insurable interest in the house?

Johnson is the owner of the house and therefore has 100 percent insurable interest of the house, that is, ￥600,000.

China Construction Bank has also an insurable interest as mortgagee in the house. But the interest is limited to $350,000.

In practice, China Construction Bank will require Johnson to insure the house in the joint names of the owner of the house and China Construction Bank. The policy must be kept by the Bank.

Reference Answers of Chapter 3

Ⅴ. Translation from English to Chinese:

1. 在合同谈判期间书面或口头的表述称之为陈述。有些陈述是关于重要的

事实，而有些陈述不是重要的陈述。那些重要的陈述必须是投保人非常真实的陈述，或者是其知识范围内或认知的范围内最佳的表述。在许多国家里，保险的陈述采取咨询、问卷的形式等等。

2. 值得注意的是，在普通商务合同中，保证只是一种许诺，附属与主合同

之中。如有违反，受害方仅仅有权索赔损失费。然而，保险合同中的保证是最基本的条件，是合同的根本。如果违反保证，受害方可以解除合同。

保证是一种许诺或承诺，许诺作为或不作为，某物事实是否存在。例如，

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在火灾保险中，被保险人应该许诺垃圾每天晚上被清理干净。在盗窃保险中，在维修合同项下保持侵入者报警系统处于良好的工作状态。 Ⅵ. Translation from Chinese to English:

1. Whether insurer or insured, they are bond by utmost good faith.

2. There will be no insurable interest in stolen motor vehicle and goods of

import and export without license.

3. The material fact must be disclosed, which would influence the insurer in

deciding to accept or refuse the business.

4. In fire insurance, the form of the construction of the building and the nature

of its use must be disclosed.

5. In life assurance, the person must disclose previous medical history.

6. The fact that the insurer should know needn?t be disclosed.

7. Misrepresentation is a false statement of facts that induces the other party to

enter into the contract.

8. The practical difficulties of recovering from an insured are so great that the

insurers often do not enforce this right. Ⅶ.Case analysis:

Mrs. Thomas decided to buy insurance for her household contents, including several items of jewelry under an “All Risk” section from Patrick Insurance Company. She completed a proposal form. From this document, the insurer assumed this to be a “standard risk” with no adverse features. They therefore issued a policy in their normal terms for this type of insurance and at their normal premium.

The insurance was renewed over the next few years and then Mr. Thomas submitted a claim in respect of several items of jewelry which had been stolen. On investigating the claim, the insurer discovered that Mrs. Thomas?s husband

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had been to jail for crimes involving dishonesty, the crimes involved receiving stolen goods-cigarettes and spirits. According to this information, the insurer decided to refuse the claim.

Why do you think the insurance company refused the insured's claim when the insurer discovered the criminal record of her husband?

Because Mrs. Thomas did not disclose to the insurer about her husband's criminal record, she is in breach of utmost good faith. The insurer can refuse her claims.

Do you think the insurer was justified in refusing the claim?

If the proposal form has such requirement in this respect, the insurance company was justified in doing so. Otherwise, it is unfair, for Mr. Thomas?s jail has nothing to do with the claim.

What do you think insurers can do or should do to prevent similar disputes arising in future?

I think that proposal form must make clear that family criminal record had to be disclosed by the applicant so not to arise dispute in claims.

Reference Answers of Chapter 4

Ⅴ. Translation from English to Chinese:

1. 想一想，把六块多米诺骨牌竖立起来，每块多米诺骨牌之间只间隔半块骨牌高的距离。如果在第一块骨牌顶部敲打一下，这将导致它倒向第二块骨牌，第二块骨牌倒向第三块骨牌，以此类推，最后第六块骨牌倒下。在这里有一系列事件的发生，并带来一个结果。所以，致使所有产生运转的、积极有效的原因就是敲打第一块骨牌。

2. 1970年，英国发生了一个案子。格雷与巴尔夫人关系暧昧，有一天晚上，

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她丈夫巴尔认为，他的妻子已经到了格雷的家里。于是带着上了膛的枪去找她。巴尔不相信格雷说巴尔夫人不在他家里，于是上楼亲自去查找，并朝天花板放了一枪，吓唬一下格雷，于是两人厮打起来。在厮打过程中，枪走火了，格雷被巴尔杀死了。巴尔被指控谋杀和过失杀人，格雷夫人于是起诉巴尔要求赔偿。法庭认为，格雷死亡的近因是他与巴尔夫人通奸造成的。法官们对于是第一枪还是第二枪是近因说法不一，对于近因是否是意外事故，也莫衷一是。然而，所有四个法官都认为，对他的赔偿不符合公众责任保险的条款，因此，格雷夫人败诉。

Ⅵ. Translation from Chinese to English:

1. The perils relevant to insurance claim can be classified in the three types. Firstly, the insured perils: those named in the policy as insured, such as fire, lightning and explosion in the policy wording. Secondly, excluded perils, those stated in the policy as excluded, such as riot, earthquake, or war in the policy wording. And finally, the uninsured perils: those not mentioned at all in the policy.

2. It is necessary for the insurer and the insured to inspect the cause of loss carefully.

3. The difficulty arises in deciding if there is a direct chain of causation between them.

4. Fire is covered and storm is not covered in the fire policy in Great Britain. 5. The author hopes the students can distinguish that the same lightning damaged the walls, but with different proximate cause.

6. The judges could not agree on whether the first or second shot was the proximate cause of Barr's loss, nor on whether the cause was accidental or not.

7. If there had been no war, he would not have been on the line along the train. Ⅶ.Case analysis:

A theft policy excluded losses due to the war. During an enemy air raid one

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night, all the street lights were turned off in order not to illuminate targets for the enemy aircraft. Under cover of this blackout, a thief broke into a warehouse and stole some of the insured property. Do you think the insurance company should pay the claim to the insured? Why?

Yes, the insurance company should pay the claims. Because there is no necessary connection between the blackout and the thieves, even in the daytime, thieves still want to steal property from the owner of the house. Therefore insurance company cannot refuse the claim with the excluded terms.

Reference Answers of Chapter 5

Ⅴ. Translation from English to Chinese:

1. 补偿原则特别依赖财务评估，因此，我们必须考虑那些评估有难度的保单情况。人寿保险和个人意外伤害保险中，主体有无限的利益。在这种情况下，补偿是不可能的。换句话说，人寿保险和个人意外伤害保险单不是补偿合同，因为一个人的生命和肢体不能用金钱来衡量。但是有雇主为雇员购买的个人意外伤害保险中，情况有所不同。保险单旨在提供一笔钱给雇主，用以支付生病雇员的工资。

2. 人寿保险合同不适应代为追偿的原则，因为人寿保险合同不是补偿性合同。假如死亡是由于另一个人的疏忽造成的，那么死者的家属代表除了获得保险单的赔偿金之外，还可以获得加害人的赔偿。例如，如果一个航班客机坠毁，造成乘客的死亡，受益人除了获得保险单的赔偿外，还可以获得航空公司的补偿。

Ⅵ. Translation from Chinese to English:

1. The principle of indemnity relies on financial evaluation. 2. Subrogation is derived from indemnity.

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3. The insurers must not make any profit by exercising their subrogation rights. 4. Most insurance contracts are contracts of indemnity except life insurance. 5. Life insurance contracts are not contracts of indemnity, as the value of a person's life or limb cannot be measured by money.

6. The options of the ways of payment by insurers include cash payment, replacement, repair and reinstatement.

7. Insurers make full use of repair as a method of providing indemnity in motor insurance.

8. In most cases, replacement refers to glass insurance. Ⅶ.Case analysis:

An insured has written to the insurance company, saying that his TV set has been destroyed completely by fire. The claim is covered under her household policy and all the insurance company has to do is how much to pay. The TV set was 5 years old and cost $500 when it was purchased new. A similar TV set would cost $1000 today. The insured agreed that the life of the TV set would have been 15 years and that her TV set had suffered normal wear and tear. How much should insurance company pay under the indemnity policy? Write out the formula.

Answer to the case: Indemnity is the cost of replacement less wear and tear. In this case, the cost of replacement is $1000. The life of the TV set was agreed at 15 years and as it is 5 years old, it has gone through one third of its life. The insured is therefore entitled to two thirds of the replacement cost. The wear and tear of the TV set: 1000 × 1/3= $333 The claim payment: 1000-333 = $667

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Therefore the insurance company should pay $667 to the insured.

Reference Answers of Chapter 6

Ⅴ. Translation from English to Chinese:

1. 对价指的是一方获得的权利和所得到的利益，或由另一方承受的忍耐、伤害和损失。例如，保险合同中，保险人许诺提供某些风险的保障，在销售合同中，卖方许诺某种商品等等。法律将不会强制执行一个许诺，除非该许诺有对价的支撑。对价可以理解为支撑许诺的价格。

2. 例如，在英国有一个妓女在早期形式的租赁合同中购买了一辆马车，后来她没有钱支付借款，她遭到马车出租人的起诉。法庭认为既然马车公司知道马车用来拉嫖客，那么，这个合同是无效的。他们起诉她拖欠的款或债务的行为失败。法庭认为，签订不道德目的的合同有悖于伦理道德。 Ⅵ. Translation from Chinese to English:

1. Social and domestic agreements are not legally binding. Accepting an

invitation to a party or a wedding cannot create a contract.

2. The law will not enforce a promise unless it is supported by consideration. 3. Both parties who make a contract must have the capacity to perform the

contract.

4. Insurance certificate is a simplified insurance contract. Insurance policy is drawn up and printed by insurer in advance.

5. The conclusion of an insurance contract means a legal action of making an

agreement between the insurer and insured on a fair and voluntary basis. 6. In property insurance, if the insured property is sold or transferred or

inherited, the applicant or the insured has to be modified.

7. In motor insurance, the terms of cover and premium will depend not only on

the vehicle to be insured but also the age, occupation, experience and driving

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record of the insured.

8. Because of the limitations, few insurance contracts are freely assignable

except marine cargo policies. Ⅶ.Case analysis:

A son takes the family business over from his father, who wishes to retire from active business life. Several years later, the son wishes to expand the business, which is that of a self-employed haulage contractor, by purchasing another vehicle. The cost of this will be $20,000 and he requests a loan of $15,000 from his father to enable him to purchase the vehicle. The father agrees to provide the son with the loan subject to two conditions:

1. The son takes a life insurance policy out on his own life for $15000 making the father beneficiary.

2. The son takes out a policy in the joint names of father and son to cover the vehicle, so that in the event of vehicle being damaged or destroyed, the father?s interest is also taken care of.

Do you think the life underwriters will agree to the arrangement? Yes, he will agree.

Do you think the motor insurers will agree to the arrangement? No, the father has no insurable interest in the vehicle.

What recommendations can you make in respect of the proposed arrangements?

The son takes out the motor policy in his own name. And the father is the third party in case of a claim occurs, the son can assign the payment to his father when insurer pays the claims to the son.

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Reference Answers of Chapter 7

Ⅴ. Translation from English to Chinese:

1. 大多数商业保险公司通过注册的保险经纪人从事保险业务。这些经纪人将为大型的公司提供有价值的服务。此外，保险经纪人还可以处理某些索赔、起草保单条款、执行风险检验以及提供风险管理服务等等。

保险经纪人把业务带到保险市场中起了主要的作用。经纪人与被保险人达成保险协议后，保险经纪人选择一个首席承保人。由首席承保人确定收取的费率、确定保险条款，并且划定风险最大百分比份额。带着准备就绪的这些条款和承保条件，保险经纪人把“承保条”带给其他保险人接受风险份额，直到最后100%的风险安排完毕。

2. 英国保险人协会（ABI）是英国保险公司主要行业协会，根据协会的统计，有大约300家保险公司是行业协会的会员。他们当中，提供国内保险销售90%的保险服务。ABI会员公司占伦敦股票市场20%的投资总额，ABI会员是政府税收的主要来源。在2010年至2011年纳税年度中，支付了10,400,000,000英镑。ABI由会员捐款资助。

ABI的主要目标包括增进会员的利益，向政府和其他机构阐述他们的观点。它还组织编写许多统计刊物和其他出版物，包括年度报告、消费者咨询以及犯罪预防的小册子。

Ⅵ. Translation from Chinese to English:

1. When we talk about market, we may think about the weekend market of the town.

2. Among international markets, London is unique market that is concentrated highly in terms of geographical location.

3. Most insurance companies are members of International Underwriting Association. At the same time, they also are members of Association of British Insurers.

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4. Lloyd's is not an insurance company. It is an insurance market.

5. Insurance brokers are intermediaries, who play a key role in bringing business to the London Insurance Market.

6. Commission of the insurance brokers comes from insurance companies. 7. Insurance agents get commission from the insurer.

8. The action of an insurance agent is looked upon the action of an insurer. Ⅶ.Case analysis:

Tom owes $8,000 to his sister Catherine. In order to keep her loan in a safe

position, Catherine wants to buy a life policy on Tom?s life for $8,000. Five months later, Tom repays the loan $8,000 with the interest to Catherine. However, Catherine still maintains the life policy on Tom?s life. Discuss what the position is upon Tom?s death? Answer:

People can insure the life of another person to whom they bear a relationship recognized at law, to the extent of a possible financial loss. Therefore, Catherine, a creditor, stands to lose $8,000 if Tom dies before repaying the loan and thus has insurable interest to the extent of the loan plus interest.

However, in life insurance, insurable interest is required only at inception according to insurance laws. There is no requirement for insurable interest to be present at the time of the claim.

Therefore, upon Tom's death, it is irrelevant that Catherine no longer has any insurable interest (the loan has been repaid) and so Catherine may recover an additional $8,000 under her life policy.

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Reference Answers of Chapter 8

Ⅴ. Translation from English to Chinese:

1. 设立保险公司，其注册资本的最低限额为人民币二亿元人民币。设立保险公司的注册资本最低限额为实缴货币资本。根据提出的业务范围和经营规模，金融监管机构和监管机构可以调整其注册资本的最低限额。然而，最低资本不得低于法律规定的保险金额。

2. 保险公司是金融机构，其经济功能是经济金融服务业的组成部分。金融机构是一个具有融资渠道的组织，通过接受储户的剩余的货币，贷款给那些支付利息的借款人。金融服务业是由金融机构组成，帮助消费者和企业和组织存储、借贷、投资以及理财。

除了为经济增长提供资金外，保险公司也投资社会项目，帮助改善人们的生活质量。例如，人寿和健康保险公司也将资金投资于支助艾滋病的进一步研究与教育，还为慈善组织提供资金支持。 Ⅵ. Translation from Chinese to English:

1. China's first insurance company was established in Shanghai in1875. 2. The establishment of PICC marked the fast development of China's insurance industry.

3. A corporation is a legal entity created by the authority of a government 4. If the owner becomes disabled or dies, the business usually closes its doors. 5. The corporation's debts and liabilities belong to the corporation itself, not to its owners.

6. In western countries, especially in North America, insurance companies are important financial institutions.

7. The distinctions between the functions of insurance companies and banks have become more and more confusable.

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8. Mutual companies can be demutualized and become stock companies. Ⅶ.Case analysis:

When Mr. Smith visited the offices of Moon Insurance Company, he picked

up a prospectus for motor insurance. He calculated the premium for his own car with the insurance rate which was quoted on the prospectus. The next day he posted the proposal form as well as the prospectus to the insurance company. At the same time he also posted the premium $1500 to the insurance company, asking the insurance company to accept the cover immediately. Five days later, his car was destroyed by fire. However the insurance company has not dealt with the proposal form because it was put into the tray on a clerk?s desk.

Do you think Mr. Smith can be indemnified by Moon Insurance Company? Give your analysis.

Answer:

Mr. Smith couldn't be indemnified by Moon Insurance Company. The prospectus which the insurance company published to describe the products are similar to advertisements and catalogues. So in most cases, they are invitations to treat and not true offers. The submission of a completed proposal form will usually be an offer. An advertisement for insurance or a prospectus containing an application form may be a true offer if it states that the applicant will be insured if he is able to answer the questions on the form in a particular way (e.g. answer ?yes' to all the questions), and he posted the form with necessary payment. Conversely, in some cases, a proposal form may be no more than invitation to treat.

Though the proposal form is an offer in this case, no contract will come into existence until the offer is accepted. Furthermore, acceptance must be communicated to the other party. There is no evidence that Moon Insurance

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Company has done anything to accept the offer or to communicate the acceptance. It appears that the insurance company under no legal obligation to pay the claim.

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